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Another luxury hotel is slated for construction in downtown Louisville—one brings with it a full service grocery store, retail space and 200 apartments.

Omni Hotels is set to begin construction on a 600-room convention hotel in 2015. The project is being done in collaboration with The Cordish Co., which owns Fourth Street Live.

The $261 million project is being announced Thursday by Louisville Mayor Greg Fischer and Kentucky Gov. Steve Beshear.

Support for WFPL comes from:

Nearly 51 percent of the funding will come from private sources. The state is set to provide nearly $90.5 million in tax rebates and Metro Government will contribute about $35.5 million in the form of land ($17 million) and the construction of an 850-vehicle parking garage.

“This investment will be a catalyst for more convention activity, while bringing more out-of-state visitors to Kentucky,” Beshear said a statement.

The project is set to be completed by 2017 and create nearly 1,350 construction jobs and 350 permanent jobs.

“This project is a major infusion in our downtown and to the city’s entire economy,” Fischer said in a statement.

The Louisville hotel will be the first Omni hotel operated property in Kentucky.

“Louisville is a thriving city, and we are ready to work in partnership with the city, state and The Cordish Companies to develop a full-service, four-diamond hotel that will bring more meetings and conventions, as well as business and leisure travelers to the area,” said Mike Deitemeyer, president of Omni Hotels & Resorts.